SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549


                                   FORM 10-QSB




(X) Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange
    Act of 1934


FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2003


( ) Transition Report Pursuant to Section 13 or 15(d) of the
    Securities Exchange Act of 1934

For the transition period from _______________ to ________________

Commission file number 1-14827


                        EVCI CAREER COLLEGES INCORPORATED
           (Exact name of small business as specified in its charter)

              DELAWARE                                  06-1488212
  (State of other jurisdiction              (IRS Employer Identification Number)
of incorporation or organization)

               35 EAST GRASSY SPRAIN ROAD, YONKERS, NEW YORK 10710
                    (Address of principal executive offices)

                                 (914) 787-3500
                (Issuer's telephone number, including area code)


Indicate by check mark whether the issuer (1) has filed all reports required to
be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X No__

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date: 7,402,261 shares of Common
Stock as of August 4, 2003.


<PAGE>

                                TABLE OF CONTENTS


                                     PART I

                              FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS                                                PAGE

Consolidated Balance Sheets as of June 30, 2003 (unaudited) and
December 31, 2002 (audited).................................................   2

Consolidated Statement of Operations for the three month
and six month periods ended June 30, 2003 (unaudited) and
June 30, 2002 (unaudited)...................................................   3

Consolidated Statement of Cash Flows for the six month periods ended
June 30, 2003 (unaudited) and June 30, 2002 (unaudited).....................   4

Notes to Consolidated Financial Statements..................................   5

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
         AND RESULTS OF OPERATIONS

Second quarter developments.................................................  10

Comparison of the three months ended
June 30, 2003 and June 30, 2002.............................................  10

Comparison of the six months ended
June 30, 2003 and June 30, 2002.............................................  12

Seasonality.................................................................  13

Liquidity and capital resources.............................................  13

Forward-looking statements and risk factors.................................  14

ITEM 3. CONTROLS AND PROCEDURES ............................................  16

                                     PART II

                                OTHER INFORMATION

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS ..........................  17

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.................  17

ITEM 5. OTHER INFORMATION...................................................  18

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K....................................  19

SIGNATURES..................................................................  23

                 SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

<PAGE>

               EVCI CAREER COLLEGES INCORPORATED AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEET


<TABLE>
<CAPTION>
                                                                              JUNE 30, 2003   DECEMBER 31, 2002
                                                                              -------------   -----------------
                          ASSETS                                              (UNAUDITED)        (AUDITED)
<S>                                                                            <C>             <C>
Current assets:
     Cash and cash equivalents .............................................   $    606,477    $  2,622,485
     Accounts receivable, net of allowance for doubtful
     accounts of $50,000 ...................................................      4,840,124       1,644,364
     Note receivable .......................................................        100,000         100,000
     Prepaid expenses and other current assets .............................        155,438          82,004
                                                                               ------------    ------------
Total current assets .......................................................      5,702,039       4,448,853
Property and equipment, net ................................................      1,764,725       1,711,252
Restricted certificates of deposit .........................................        289,267         288,175
Goodwill ...................................................................      3,057,288       2,257,289
Other assets ...............................................................        228,739         228,739
                                                                               ------------    ------------
Total assets ...............................................................   $ 11,042,058    $  8,934,308
                                                                               ============    ============
           LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
     Accounts payable and accrued expenses .................................   $  1,347,537    $  1,194,804
     Deferred revenue ......................................................      1,513,409       1,875,507
     Notes payable .........................................................      1,021,328         963,309
     Accrued purchase price payable for Interboro ..........................        265,000         360,000
     Current portion of capitalized lease obligations ......................         83,610          78,008
                                                                               ------------    ------------
Total current liabilities ..................................................      4,230,884       4,471,628
     Accrued purchase price payable for Interboro, net of
     current portion .......................................................      1,857,331       1,237,331
     Capital lease obligations, net of current portion .....................        129,922         141,739
     Liabilities from discontinued operations ..............................           --            64,956
     Notes payable .........................................................        438,671         496,691
                                                                               ------------    ------------

Total liabilities ..........................................................      6,656,808       6,412,345

Stockholders' equity:
Preferred stock-$.001 par value: authorized 1,000,000
     shares:
Series B 7% Convertible Preferred Stock -- $100 stated value; 200,000 shares
     designated series B; issued and outstanding 105,000 shares and 130,000
     shares respectively ...................................................     10,453,793      12,820,618
Series C 8% Convertible Preferred Stock -- $100 stated
     value; 20,000 shares designated series C; issued and
     outstanding none ......................................................           --              --
Common stock - $.0001 par value; authorized 20,000,000
     shares, issued  and outstanding 6,390,165 shares and
     5,308,826 respectively ................................................            641             532
Additional paid-in capital .................................................     26,663,577      23,432,295
Accumulated deficit ........................................................    (32,732,761)    (33,731,482)
                                                                               ------------    ------------
Stockholders' equity .......................................................      4,385,250       2,521,963
                                                                               ------------    ------------
Total liabilities and stockholders' equity .................................   $ 11,042,058    $  8,934,308
                                                                               ============    ============
</TABLE>
                 SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                       2
<PAGE>

              EVCI CAREER COLLEGES INCORPORATED AND SUBSIDIARIES
                      CONSOLIDATED STATEMENT OF OPERATIONS
                                   (UNAUDITED)

<TABLE>
                                                              THREE MONTHS ENDED JUNE 30,  SIX  MONTHS  ENDED JUNE 30,
                                                                  2003           2002          2003            2002
<S>                                                          <C>            <C>            <C>            <C>
Net revenue ..............................................   $ 3,877,774    $ 3,314,859    $ 9,825,104    $ 7,171,786
Other income .............................................        41,639         20,459        135,402         80,502
                                                             -----------    -----------    -----------    -----------
Total revenue ............................................     3.919,413      3,335,318      9,960,506      7,252,288
                                                             -----------    -----------    -----------    -----------
Operating expenses:
Cost of revenue ..........................................     1,083,611        809,724      2,354,196      1,624,495
Selling, general and administrative ......................     2,940,088      2,572,482      6,332,127      5,082,478
                                                             -----------    -----------    -----------    -----------
Total operating expenses .................................     4,023,699      3,382,206      8,686,323      6,706,973
                                                             -----------    -----------    -----------    -----------
Income (loss)  from operations ...........................      (104,286)       (46,888)     1,274,183        545,315
Other income (expense):
Interest expense .........................................       (38,697)       (11,375)       (61,279)       (31,902)
Interest income ..........................................         9,548          4,645         17,043          8,407
                                                             -----------    -----------    -----------    -----------
Income (loss) from continuing operations .................      (133,435)       (53,618)     1,229,947        521,820
Income (loss) from discontinued operations ...............          --          161,346           --         (205,326)
                                                             -----------    -----------    -----------    -----------
Income (loss) before provision (benefit) for income taxes       (133,435)       107,728      1,229,947        316,495
Provision (benefit) for income taxes .....................      (100,000)        44,578        115,550        162,578
                                                             -----------    -----------    -----------    -----------
Net income (loss) ........................................       (33,435)        63,150      1,114,397        153,916
Accreted value of warrants and transaction costs .........       (55,881)       (59,794)      (115,675)      (119,588)
Undeclared dividends on preferred  stock Series B ........      (199,069)      (227,500)      (426,569)      (455,000)
Dividends on preferred stock-series C ....................          --             --             --           (6,253)
Accreted value Warrants-series C .........................          --             --             --           (3,081)
                                                             -----------    -----------    -----------    -----------
Net income (loss)available to common stockholders ........   $  (288,385)   $  (224,144)   $   572,153    $  (430,006)
                                                             ===========    ===========    ===========    ===========
Earnings (loss) per common share:
BASIC
Continuing operations ....................................   $     (0.05)   $     (0.08)   $      0.10    $     (0.05)
Discontinued operations ..................................   $      0.00    $      0.03    $      0.00    $     (0.04)
                                                             -----------    -----------    -----------    -----------
Net earnings (loss) per common share .....................   $     (0.05)   $     (0.05)   $      0.10    $     (0.09)
                                                             ===========    ===========    ===========    -----------

DILUTED
Continuing operations ....................................   $     (0.05)   $     (0.08)   $      0.07    $     (0.05)
Discontinued operations ..................................   $      0.00    $      0.03    $      0.00    $     (0.04)
                                                             -----------    -----------    -----------    -----------
Net earnings  per common share ...........................   $     (0.05)   $     (0.05)   $      0.07    $     (0.09)
                                                             ===========    ===========    ===========    ===========

Weighted average of number of shares outstanding:
Basic ....................................................     5,950,957      4,789,847      5,631,665      4,605,315
Diluted ..................................................     5,950,957      4,789,847      8,643,753      4,605,315
</TABLE>

                 SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                       3
<PAGE>

               EVCI CAREER COLLEGES INCORPORATED AND SUBSIDIARIES
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                                   (UNAUDITED)



<TABLE>
<CAPTION>
                                                                                  SIX MONTHS ENDED JUNE 30,
                                                                                      2003              2002
<S>                                                                                  <C>                 <C>
Cash flows from operating activities:
Net income ...................................................................   $ 1,114,397    $   153,917
Adjustments to reconcile net income  to net cash used in operating activities:
Depreciation and amortization ................................................       417,500        244,499
Changes in operating assets and liabilities, net of effects of dispositions:
Increase in accounts receivable ..............................................    (3,195,760)    (1,267,886)
(Increase) decrease in prepaid expenses and other assets .....................       (78,436)        96,289
Increase (decrease) in accounts payable and accrued expenses .................       152,733        (21,681)
Decrease in deferred revenue .................................................      (362,098)       (34,009)
Increase in assets and liabilities from discontinued operations ..............       (64,956)      (309,012)
                                                                                 -----------    -----------
Net cash used in operating activities ........................................    (2,016,620)    (1,137,883)
                                                                                 -----------    -----------
Cash flows used in investing activities:
Deposits required ............................................................          --           (6,000)
Purchase of property and equipment ...........................................      (395,591)      (404,560)
Payment on accrued purchase price of Interboro ...............................      (275,000)      (207,741)
Cash advanced for note receivable ............................................          --         (100,000)
                                                                                 -----------    -----------
Net cash used in investing activities ........................................      (670,591)      (718,301)
                                                                                 -----------    -----------
Cash flows from financing activities:
Principal payments under capital lease obligations ...........................       (77,709)       126,303
Proceeds from exercise of warrants ...........................................       674,412           --
Proceeds from exercise of employee stock options .............................        74,500           --
Net proceeds from issuance of preferred stock-Series C .......................          --          419,474
Purchase of treasury stock ...................................................          --          (65,889)
                                                                                 -----------    -----------
Net cash provided by financing activities ....................................       671,203        479,888
                                                                                 -----------    -----------
Net decrease in cash and cash equivalents ....................................    (2,016,008)    (1,376,296)
Cash and cash equivalents at beginning of period .............................     2,622,485      2,342,282
                                                                                 -----------    -----------
Cash and cash equivalents at end of period ...................................   $   606,477    $   965,986
                                                                                 ===========    ===========
Supplemental schedule of cash flow information:
Cash paid during the period for:
Interest .....................................................................   $    61,279    $    31,902
Taxes ........................................................................   $   144,944    $   118,495

Supplemental schedule of noncash financing activity:
Capital lease obligations incurred                                               $    71,495    $      --
</TABLE>


                                       4
<PAGE>

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 - BUSINESS AND BASIS OF PRESENTATION

The accompanying consolidated financial statements include the accounts of EVCI
Career Colleges Incorporated, formerly Educational Video Conferencing, Inc. and
its wholly owned subsidiaries, Interboro Institute, Inc. ("Interboro"), and
Interboro Holding, Inc. References to "we," "our," and "us" mean EVCI and its
subsidiaries unless the context requires otherwise. All intercompany balances
and transactions have been eliminated.

We provide on-campus postsecondary college education, presently through
Interboro. Interboro is a two-year college that offers degree programs leading
to the Associate of Occupational Studies degree and has a main campus in
mid-town Manhattan and an extension center in Flushing, New York. In addition,
Interboro opened two new college sites on September 30, 2002. One is in the
Washington Heights section of Manhattan, New York City and the other is in
Yonkers, New York. We acquired Interboro in January 2000.

On June 30, 2003, we stopped our remaining multi-point video conferencing
technology and services activities.

In July 2001, Interboro Holding, Inc. acquired all of the outstanding common
stock of ICTS, Inc. (ICTS). In September 2002, the board of directors of ICTS
decided to discontinue ICTS's operations (see Note 10).

The accompanying unaudited interim financial statements have been prepared in
accordance with generally accepted accounting principles for interim financial
information and the requirements of item 310(b) of Regulation S-B. Accordingly,
certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted accounting principles
have been condensed or omitted pursuant to the rules and regulations of the
Securities and Exchange Commission. The financial statements reflect all
adjustments (consisting of normal recurring adjustments) which, in the opinion
of management, are necessary for a fair presentation of the results for the
periods shown. There have been no significant changes in our accounting policies
since December 31, 2002.

Our results from operations for the interim period are not indicative of the
results expected for the full fiscal year or any future period and should be
read in conjunction with our audited financial statements as of December 31,
2002 and for the year then ended, and the notes thereto, in our 10-KSB for the
year ended December 31, 2002.

NOTE 2 - EARNINGS PER SHARE

Statement of Financial Accounting Standards ("SFAS") No. 128, "Earnings per
Share," requires dual presentation of basic earnings per share ("EPS") and
diluted EPS on the face of all statements for all entities with complex capital
structures. Basic EPS is computed as net earnings available to common
stockholders divided by the weighted-average number of common shares outstanding

                                       5
<PAGE>

for the period. Diluted EPS reflects the potential dilution that could occur
from common shares issuable through stock based compensation including stock
options, restricted stock awards, warrants and other convertible securities. A
reconciliation of shares used in calculating basic and diluted earnings per
share follows:

                                                                SIX MONTHS ENDED
                                                                 JUNE 30, 2003
                                                                ----------------

Basic weighted average number of common shares outstanding         5,631,665

Effect of assumed conversion of series B preferred stock           2,351,756

Effect of assumed conversion of outstanding options                  225,572

Effect of assumed conversion of outstanding warrants                 434,760
                                                                  ----------

Diluted weighted average number of shares of common
stock outstanding                                                  8,643,753
                                                                  ==========

Potential common stock has not been put into the computation of diluted earnings
per share for the three month periods ended June 30, 2003, June 30, 2002 and for
the six month period ended June 30, 2002 since the effect would be
anti-dilutive.

NOTE 3 - REVENUE RECOGNITION

We recognize our revenue ratably over the semester in which courses are given
and as services are performed. The total deferred revenue at June 30, 2003 was
$1,513,409. This revenue will be recognized in the third quarter of 2003.

NOTE 4 - CONVERTED NOTES

In July 2002, we received proceeds of $498,750 from the issuance of convertible
promissory notes and warrants. In September 2002, the notes were converted into
475,000 shares of our common stock at $1.05 per share, the fair value of our
common stock when the notes were issued. The warrants are exercisable, until
March 2005, for 475,000 shares of our common stock at $1.05 per share, subject
to adjustment. A value of $22,619 has been allocated to the warrants and has
been recognized as additional interest expense on the notes. The costs related
to this transaction were approximately $13,000. In addition, 2,360 shares of the
Company's common stock were issued in lieu of cash as interest on the notes. In
May 2003, the warrants were exercised at $1.05 per share to purchase 406,190
shares for $426,500.

NOTE 5 - PREFERRED STOCK

Our Series B preferred stock was initially convertible into shares of our common
stock at $13.50 per share. On September 22, 2001, the conversion price was reset
to $6.75 in accordance with the provisions of the Series B preferred that
required the reset to the lower of the initial conversion price and the current
market price, but not less than 50% of the initial conversion price. As a result
of our issuance of additional common stock for less than $6.75 per share and

                                       6
<PAGE>

common stock purchase warrants that are exercisable below $6.75 per share, the
conversion price has been adjusted to $5.24 as of September 5, 2002. On May 13,
2003, 25,000 Series B preferred shares were converted into 477,100 shares of
common stock at $5.24 per share. In September 2003, the conversion price will
reset to the lower of $6.75 and the then current market price of our common
stock, but not lower than $3.375.

At June 30, 2003, cumulative undeclared dividends on our Series B preferred
amount to approximately $1,586,000.

NOTE 6 - NOTES PAYABLE

In August 2001, our Series B preferred stockholders consented to an amendment of
EVCI's certificate of incorporation, which permitted us to reclassify the Series
B stock as permanent equity. Additionally, the Series B preferred stockholders
waived their right to receive payment of previously undeclared dividends on
their shares. In consideration, we issued a 5% interest-bearing promissory note
in the amount of $910,000. The promissory note is payable on September 22, 2003,
and is secured by the common stock of Interboro. Furthermore, Interboro has
guaranteed payment of the note and has secured its guarantee by granting a first
lien on its assets that is subordinate to specified creditors.

In July 2002, we received $550,000 for a promissory note at 10% interest for 36
months. This note is secured by a letter of credit for $250,000, which is
collateralized by a restricted certificate of deposit of $250,000. In addition
the holder received 50,000 warrants to purchase our common stock at $1.50 per
common share. The note is payable in 23 monthly installments of principal and
interest commencing July 2003 and a balloon payment for the balance.

NOTE 7 - INCOME TAXES

No provision for federal income taxes has been made for all periods presented
since the Company recorded net operating loss carryforwards to offset taxable
income. The Company recorded a deferred tax asset for the tax effect of the net
operating loss carryforwards. These net operating losses have resulted in a
deferred tax asset. Due to the uncertainty regarding the ultimate amount of
income tax benefits to be derived from our net operating losses, we have
recorded a full valuation allowance. The provision for income taxes consists of
state and city taxes for Interboro.

NOTE 8 - EMPLOYEE STOCK OPTIONS

EVCI has elected, in accordance with the provisions of SFAS No. 123, to apply
the current accounting rules under opinion No. 25 and related interpretations in
accounting for stock options and, accordingly, is presenting the disclosure-only
information as required by SFAS No. 123. If EVCI had elected to recognize
compensation cost based on the fair value of the options granted at grant date
as prescribed by SFAS No. 123, EVCI's net income and net income per common share
would approximate the pro forma amounts shown in the following table:

                                       7
<PAGE>


<TABLE>
<CAPTION>
                                               THREE-MONTHS    THREE-MONTHS      SIX-MONTHS     SIX-MONTHS
                                               ENDED           ENDED             ENDED          ENDED
                                               JUNE 30, 2003   JUNE 30, 2002     JUNE 30, 2003  JUNE 30, 2002


<S>                                             <C>           <C>           <C>              <C>
Reported net income (loss)                      $  (33,435)   $   63,150    $   1,114,397    $   153,916

Deduct: total stock-based employee
compensation expense determined under
fair-value based method for all
awards, net of related tax effects:                (23,277)      (98,829)         (46,555)      (282,479)
                                                ----------    ----------    -------------    -----------
Pro forma net income (loss)                     $  (56,712)   $  (35,679)   $   1,067,843    $   128,563
Reported net income (loss) per common share:
     Basic                                      $    (0.05)   $    (0.05)   $        0.10    $     (0.09)
     Diluted                                    $    (0.05)   $    (0.05)   $        0.06    $     (0.09)
Pro forma net income (loss) per common share:
     Basic                                      $    (0.05)   $    (0.07)   $        0.09    $     (0.15)
     Diluted                                    $    (0.05)   $    (0.07)   $        0.06    $     (0.15)
</TABLE>

The fair value of options granted (which is amortized to expense over the option
vesting period in determining the pro forma impact) is estimated on the date of
grant using the Black-Scholes option-pricing model with the following
assumptions: no dividend yield, volatility of 136%, risk-free interest rates
ranging from 3.08% to 4.14% and an expected life of 3 to 5 years from the date
of vesting.

NOTE 9 - NOTE RECEIVABLE

This consists of a note that was issued by JIA, Inc., a provider of an
integrated suite of software solutions for global direct selling companies. The
note was issued to evidence our loan made in the third quarter of 2002. The note
is due September 30, 2003 and bears interest at 8% per annum. The note is
convertible into shares of JIA common stock. We were also issued warrants to
purchase 25,000 or 30,000 shares (based on JIA's earnings) of JIA's common stock
at $1.00 per share, subject to adjustment. No value has been assigned to the
warrants. We gave JIA the right to market EVCI's e-learning content and to be
issued warrants to purchase EVCI's common stock if JIA purchases more than
$2,000,000 of EVCI's e-learning content by September 30, 2003. Through June 30,
2003, JIA has not purchased any e-learning content from EVCI.

NOTE 10 - DISCONTINUED OPERATIONS

On September 30, 2002, ICTS, Inc. decided to stop offering courses at its four
sites. The board of directors of ICTS recommended the shutdown of ICTS'
operations because of its current, as well as future predictions for, continuing
losses. As a result, this segment's revenue, cost of revenue and related
expenses have been reclassified in the consolidated statement of operations and
shown separately as a net amount under the caption "Loss from discontinued
operations" for 2002. ICTS' net revenue for the three and six month periods

                                       8
<PAGE>

period ended June 30, 2002 was $1,929,052 and $4,126,068. In addition, we have
reclassified, a one time non-cash charge of $232,378 to reduce the carrying
value of goodwill on ICTS, to discontinued operations for the six month period
ended June 30, 2003.

NOTE 11 - PURCHASE PRICE PAYABLE FOR INTERBORO

On January 14, 2000, EVCI through its wholly owned subsidiary, Interboro Holding
Inc. acquired the outstanding shares of Interboro for $672,500 plus 50% of
Interboro's earnings before interest, taxes, debt and amortization ("EBITDA")
for the three years ending December 31, 2001, 2002, and 2003. The $672,500 is
payable out of 20% of EBITDA each year. We have offset the $162,000 payable in
2002 (which equals 20% of 2001 EBITDA), by approximately $137,000 for claims we
have for undisclosed liabilities.

For the year ended December 31, 2001, 50% of EBITDA was approximately $405,000
and has been accrued. For the year ended December 31, 2002, 50% of EBITDA was
approximately $853,000 and has been accrued. Through December 31, 2002, we had
paid approximately $207,000 and accrued approximately $1,597,000 of purchase
price. For the six months ended June 30, 2003 we have accrued an additional
$800,000 of purchase price and paid $275,000 which was due and payable.
Beginning in April 2004, we are required to begin making eight consecutive equal
quarterly payments of the accrued amounts, which totaled $2,122,000 as of June
30, 2003.

Legal proceedings, previously reported, regarding the calculation of EBITDA are
ongoing.

NOTE 12 - SUBSEQUENT EVENTS

In July 2003, we borrowed an additional $50,000 from the holder of our $550,000
promissory note. This note was amended to increase the principal amount to
$600,000 without changing any of its other terms.

Our receipt of an additional $3,000,000 of financing is described in Item 5 of
Part II of this report.

As a result of our improved financial condition, in August 2003 our board
declared and we paid the dividends of $322,522, attributable to the 25,000
Series B preferred shares that were converted in May and 3,600 shares of Series
B preferred that were converted in July 2003, all at $5.24 per share.

As a result of the issuances of our common stock referred to in Item 5 of Part
II, the conversion price of the Series B preferred was adjusted to $4.76.

                                       9
<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS

The following information should be read in conjunction with Management's
Discussion and Analysis of Financial Condition and Results of Operations and the
financial statements and notes thereto included in our 10-KSB for the year ended
December 31, 2002, and in conjunction with the financial statements and notes
thereto for the three and six months periods ended June 30, 2003 and 2002,
included with item 1 of this report. All numbers have been rounded and are
approximate. Excluded from the discussion are all costs related to ICTS, except
as expressly stated otherwise. References in the discussion to EVCI mean our
general corporate and limited multi-point video conferencing activities.

SECOND QUARTER DEVELOPMENTS

o    Interboro's summer enrollment increased 15% to approximately 1,080
     full-time students from 947 full-time students in the summer of 2002. This
     increase includes 95 full-time students at Washington Heights campus and 34
     full-time students at our Yonkers campus.

o    The New York State Board of Regents notified Interboro that it had met the
     requirements for accreditation for the next five years.

o    Interboro completed installing a new comprehensive information management
     system, Campus 2000. This system allows Interboro's multiple sites to more
     effectively and comprehensively track data regarding its students.

o    Interboro hired a new vice president for admissions with extensive
     experience at for profit higher education schools operating in urban
     markets.

o    The Higher Education Services Corporation, acting on behalf of the New York
     State Department of Education, notified all colleges which receive TAP
     awards that a deferral of 30% of TAP awards for the summer 2003, fall,
     2003, and Spring, 2004, semesters will be made by deferring disbursement of
     the TAP award in the spring 2004 semester until August 1, 2004. Interboro's
     estimated TAP award deferral is expected to reach approximately $3,000,000
     for those three semesters.

o    The TAP deferral of $620,000 of awards for Interboro's Spring, 2003
     semester was paid on schedule on July 21, 2003.

o    We received gross proceeds of $721,000 from exercises of warrants and
     options to purchase 605,000 shares of our common stock.

COMPARISON OF THREE MONTHS ENDED JUNE 30, 2003 TO THREE MONTHS ENDED JUNE 30,
2002

Net revenues for second quarter 2003 increased 17%, or $563,000, to $3,878,000
from $3,315,000 for the second quarter 2002. Interboro's full time enrollment
increased to approximately 1,080 for the second quarter 2003 from 947 in the
second quarter 2002. Net revenues for our second and third quarters are impacted
by seasonally lower attendance.

                                       10
<PAGE>

Other income increased by $22,000 to $42,000 for the second quarter 2003 from
$20,000 for the second quarter 2002. The difference is attributable to increases
in enrollment applications received by Interboro.

Cost of revenue increased by 34%, or $270,000, to $1,084,000 for the second
quarter 2003 from $810,000 for the second quarter 2002. The net increase was due
to hiring additional support staff, adjunct professors and full time instructors
to support the growth at Interboro. Of this increase, $191,000 relates to our
new sites in Washington Heights and Yonkers. As a percentage of our net revenue,
cost of revenue was 28% and 24% for second quarter 2003 and 2002.

Salaries and benefits increased by 4%, or $51,000, to $1,356,000 for the second
quarter 2003 from $1,305,000 for the second quarter 2002. The increase results
from a reduction of payroll at our corporate headquarters of $172,000 and an
increase in payroll at Interboro of $223,000. This increase at Interboro is
attributable to additional support staff at Interboro that was required to
manage its growth and includes $120,000 related to the opening of the Washington
Heights and Yonkers sites. At June 30, 2003, Interboro had 151 full time
employees, 74 adjunct instructors and 46 part time employees as compared to 110
full time employees, 42 adjunct instructors and 16 part time employees at June
30, 2002.

Marketing, brochures and student registration costs increased by $294,000 to
$405,000 for the second quarter 2003 from $111,000 for second quarter 2002. The
increase in marketing costs was primarily for additional subway, bus, radio,
flyers and newspaper advertisements including $43,000 for our two newest sites.

Professional fees and consulting fees decreased by $164,000 to $112,000 for the
second quarter 2003 from $276,000 for the second quarter 2002. The decrease
includes $70,000 at EVCI for technical training and $54,000 at Interboro for
computer support as well as reduced legal, accounting and consulting services.

Depreciation and amortization increased to $213,000 for the second quarter 2003
from $127,000 for the second quarter 2002. The increase relates mostly to
leasehold improvements and computer purchases to expand the enrollment capacity
at our Flushing site and to open our Washington Heights and Yonkers sites.

Other expenses increased by $100,000 to $854,000 for the second quarter 2003
from $754,000 for the second quarter 2002. These costs are comprised of: EVCI,
$165,000 and Interboro, $689,000 in the second quarter 2003, versus EVCI,
$238,000 and Interboro, $516,000 in the second quarter 2002. At EVCI, the net
decrease of $73,000 is primarily due to: a $21,000 reduction in investor
relations costs, a $20,000 reduction in insurance, a $45,000 reduction in travel
and a net increase in other expenses of $13,000. The increase at Interboro of
$173,000 is made up of the following: rental cost of Washington Heights of
$42,000, $15,000 for additional insurance coverage, $30,000 for equipment rental
and storage and $86,000 of general overhead items to support the expansion of
Interboro.

Interest income increased by $5,000 to $ 10,000 for the second quarter 2003 from
$5,000 for the second quarter 2002, due to our improved cash flow from
Interboro.

                                       11
<PAGE>

Interest and financing costs increased to $39,000 in the second quarter 2003
from $11,000 in the second quarter 2002. The $28,000 increase relates to
interest on additional capital leases and on our $550,000 note payable that was
issued in July 2002.

Loss from operations increased by $57,000 to $104,000 for the second quarter
2003 from $47,000 for the second quarter 2002. These losses are primarily due to
the seasonality of our business and costs of expansion.

COMPARISON OF SIX MONTHS ENDED JUNE 30, 2003 TO SIX MONTHS ENDED JUNE 30, 2002

Net revenues for the first six months 2003 increased 37%, or $2,653,000 to
$9,825,000 from $7,172,000 for the first six months 2002. Interboro's full time
enrollment increased to approximately 2,880 for the first six months 2003 from
2,347 in the first six months 2002.

Other income increased by $54,000 to $135,000 for the first six months 2003 from
$81,000 for the first six months 2002. The difference is attributable to
increases in enrollment applications received by Interboro.

Cost of revenue increased by 45 %, or $730,000, to $2,354,000 for the first six
months 2003 from $1,624,000 for the first six months 2002. The net increase was
due to hiring additional support staff, adjunct professors and full time
instructors to support the growth at Interboro. Of this increase, $384,000
relates to our new sites in Washington Heights and Yonkers. As a percentage of
our net revenue, cost of revenue was 24% and 23 % for the first six months of
2003 and 2002.

Salaries and benefits increased by 14%, or $347,000, to $2,847,000 for the first
six months 2003 from $2,500,000 for the first six months 2002. The increase
results from a reduction of payroll at our corporate headquarters of $358,000
and an increase in payroll at Interboro of $705,000. This increase at Interboro
is attributable to additional support staff at Interboro that was required to
manage its growth and includes $242,000 related to the opening of the Washington
Heights and Yonkers sites.

Marketing, brochures and student registration costs increased by $567,000 to
$896,000 for the first six months 2003 from $329,000 for first six months 2002.
The increase in marketing costs was primarily for additional subway, bus, radio,
flyers and newspaper advertisements including $114,000 for our new sites.

Professional fees and consulting fees decreased by $92,000 to $401,000 for the
first six months of 2003 from $493,000 for the first six months 2002. This
decrease includes $58,000 at EVCI for technical training and $34,000 at
Interboro for computer support as well as reduced legal, accounting and
consulting services.

Depreciation and amortization increased to $418,000 for the first six months
2003 from $244,000 for the first six months 2002. The increase relates mostly to
leasehold improvements and computer purchases to expand the enrollment capacity
at our Flushing site and to open our Washington Heights and Yonkers sites.

                                       12
<PAGE>

Other expenses increased by $255,000 to $1,770,000 for the first six months 2003
from $1,515,000 for the first six months 2002. These costs are comprised of:
EVCI, $295,000 and Interboro, $1,475,000 in the first six months 2003, versus
EVCI, $559,000 and Interboro, $956,000 in the first six months 2002. At EVCI,
the net decrease of $264,000 is primarily due to: a $20,000 decrease resulting
from a reduction in rental space, a $20,000 reduction in insurance coverage, a
$104,000 reduction in investor relations costs, a $70,000 reduction in travel
expenses, a $25,000 reduction in equipment rental expenses, and a $25,000
reduction in general overhead items. The increase at Interboro of $519,000 is
made up of the following: $101,000 of rent for additional space required to hold
classes and for our new recruiting office, $78,000 for our new site in
Washington Heights, $108,000 for insurance coverage, $46,000 for office
supplies, $25,000 for internet and communication costs, $39,000 for equipment
rental costs and $122,000 of general overhead items to support the expansion of
Interboro.

Interest income increased by $9,000 to $17,000 for the first six months 2003
from $8,000 for the first six months 2002, due to our improved cash flow from
Interboro.

Interest and financing costs increased to $61,000 in the first six months 2003
from $32,000 in the first six months 2002. The $29,000 increase is relates to
interest on capital leases and interest on our $550,000 note payable.

Income from operations increased by $729,000 to $1,274,000 for the first six
months 2003 from $545,000 for the first six months 2002, primarily because the
incremental increase in our enrollments was much greater than the cost to us of
servicing this increase.

SEASONALITY

Interboro's revenue varies seasonally as a result of changes in the level of its
student enrollment. Interboro traditionally has experienced a greater seasonal
increase in enrollments for the fall semester over the spring semester. However,
due to our expansion and progress in increasing new enrollment and retention of
Interboro students, we had record enrollment for the spring and summer
semesters. Although we have a summer semester at Interboro and we encourage
year-round attendance at all sites, enrollment during the summer is
significantly lower than the remainder of the year. As a result of these
factors, total student enrollment and net revenue are typically highest in our
fourth and first quarters, which include October through March.

LIQUIDITY AND CAPITAL RESOURCES

OPERATING ACTIVITIES

Cash used in operating activities for the six months ended June 30, 2003 was
$2,016,000 compared to $1,138,000 for the six months ended June 30, 2002. The
increase in cash used in operating activities of $878,000 is comprised
principally of $1,133,000 of increases in our income after adjusting for

                                       13
<PAGE>

non-cash items such as depreciation and amortization totaling $174,000, which is
offset by an increase in our accounts receivable of $1,928,000.

INVESTING ACTIVITIES

Cash used in investing activities was $742,000 for the first six months 2003
compared to $718,000 for the six months ended June 30, 2002. Expenditures of
$467,000 in 2003 were for leasehold improvements and computer equipment to
support Interboro's growth at existing and new sites. We also paid an additional
$67,000 of the purchase price for Interboro. The expenditures for the first six
months of 2002 were $405,000, primarily for computers. In addition, we received
a note from JIA for $100,000 in first six months of 2002.

FINANCING ACTIVITIES

Net cash provided by financing activities in the first six months 2003 was
$721,000 compared to $480,000 for the first six months ended June 30, 2002. We
received the $721,000 from exercises of warrants and options: $673,500 from
warrants to purchase 530,750 shares of common stock and $74,500 from
non-executive employee stock options to purchase 74,500 shares of common stock.

Since June 30, 2003, we have received an additional $3,050,000 from financing
activities described in Note 12 in Item 1 of Part I and Item 5 of Part II of
this report. Based on current plans and assumptions relating to our current
operations, we anticipate that our cash flow from our operations will be
sufficient to satisfy our operating cash requirements at least until June 30,
2004.

However, we may require additional cash, on a short term basis, to finance the
TAP deferral that is discussed in Item 1 of this report under the caption
"Second quarter developments" and in the risk factors below.

Furthermore, our cash from operations may only be sufficient to pay a portion of
the up to $1,443,000 of undeclared dividends on our Series B preferred that we
may be required to accrue and pay in September 2003. We expect to have the cash
to pay the balance of these dividends using EVCI's cash from operations in 2004.

Accordingly, our ability to satisfy our cash requirements until June 30, 2004
depends on whether and to the extent our current assumptions regarding our cash
position are affected by the risk factors discussed above and below in this
report and in our 10-KSB for 2002. We, therefore, are actively seeking
additional financing.

FORWARD-LOOKING STATEMENTS AND RISK FACTORS

Statements and financial discussion and analysis by our management contained in
this 10-QSB that are not historical facts are forward-looking statements. These
include statements above in this Item 2 and in Item 5 below that are qualified
by the phrase "based on our current plans and assumptions." They reflect
management's current views with respect to future events and, accordingly, are
subject to certain assumptions, risks and uncertainties, including the risk
factors discussed briefly below. Additional details regarding those risk factors

                                       14
<PAGE>

can be found in our 10-KSB for our year ended December 31, 2002. If any of those
or other risks actually occur, or should our assumptions prove incorrect, actual
results may vary materially from those anticipated by those forward-looking
statements. Furthermore, our business, financial condition and results of
operations could be materially and adversely affected.

o    The seasonality of our enrollments is expected to produce significant
     variations in our results from quarter to quarter.

o    Any significant decrease in Interboro's new student enrollments or its
     retention of existing students would have a material adverse effect on
     Interboro.

o    Interboro is subject to extensive federal and New York State regulation
     because it depends on substantial federal and state grants in order to
     operate.

o    Changes in the amount or timing of TAP program disbursements (including the
     deferral discussed above) could materially impede Interboro's ability to
     operate.

o    Future delays in the approval of the New York State budget that includes
     TAP funding could adversely affect Interboro's operations.

o    If we require and cannot obtain additional financing to finance any TAP
     deferral, Interboro's business could be adversely affected.

o    Interboro's retention rates may not be sufficient for it to receive the
     requisite approval from the New York State Department of Education to open
     new college sites.

o    Terrorist activity, or the threat of it, in New York City could adversely
     affect Interboro.

o    Interboro's problems with regulators, that occurred prior to our acquiring
     it, could reoccur and adversely affect its operations.

o    It is not possible to predict the results of continuing negotiations with
     the union representing certain Interboro employees.

o    A strike, work stoppage or picketing by union employees could have a
     material adverse effect on Interboro.

o    EVCI and Interboro depend on key management personnel to operate and grow.

o    The outcome of our ongoing arbitration with the former owner of Interboro
     regarding management fees paid to EVCI by Interboro could have a material
     adverse affect on us.

o    Future litigation against us by regulatory agencies or other parties could
     have a material adverse effect on our business, including potential
     litigation by our Series B preferred holders seeking payment of undeclared
     dividends on their shares.

o    A change in control of EVCI could adversely affect Interboro's
     participation in Pell and TAP.

o    A change in control of EVCI would adversely affect EVCI's ability to fully
     utilize its net operating loss carry-forwards.

                                       15
<PAGE>

o    Interboro's inability to foster and maintain relationships with community
     organizations in the communities where its college sites are located could
     adversely affect those sites.

o    Our management and other principal stockholders, by acting together, can
     probably control our business and policies without the approval of other
     stockholders.

o    Future sales of shares of our common stock by existing stockholders could
     have an adverse effect on market price of our common stock and our ability
     to obtain additional financing.

o    Our share price has ranged greatly since we went public and may be very
     volatile in the future.

o    Provisions of law, our certificate of incorporation and by-laws and
     agreements could discourage takeover attempts and other investments in our
     common stock.

o    Our classified board limits stockholder voting for the election and removal
     of directors.

o    Indemnification and limitation of liability of our officers and directors
     may insulate them from accountability to stockholders at substantial cost
     to us.

ITEM 3.  CONTROLS AND PROCEDURES

     Our management, including our chief executive officer and president and our
chief financial officer, have conducted an evaluation of the effectiveness of
our disclosure controls and procedures (as defined in Rule 13a-14(c) under the
Securities Exchange Act of 1934) as of a date within 90 days prior to the filing
date of this report. Based upon that evaluation, our chief executive officer and
president and our chief financial officer have concluded that our disclosure
controls and procedures are effective for timely gathering, analyzing and
disclosing the information we are required to disclose in our reports filed
under the Exchange Act. There have been no significant changes made in our
internal controls or in other factors that could significantly affect our
internal controls subsequent to that evaluation date.

                                       16
<PAGE>

                                     PART II

                                OTHER INFORMATION

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

     (c) During the second quarter, we issued 1,006,839 unregistered shares of
our common stock in the following transactions:

       DESCRIPTION (DATE)             NO. OF SHARES ISSUED       PRICE PER SHARE
       ------------------             --------------------       ---------------

Warrant exercises                           406,190                   $1.05
(4/28/03 - 5/1/03)

Warrant exercises                           123,549                   $2.00
(5/16/03 - 5/29/03)

Conversion of Series B preferred stock      477,100                   $5.24
(5/13/03)

     None of these transactions required the payment of any selling commissions.

     The shares issued upon exercise of warrants were issued to accredited
investors and, accordingly, were exempt from registration under the Securities
Act of 1933 (the "Act") in reliance upon Regulation D of the SEC.

     The shares issued upon conversion of Series B preferred stock were exempt
from registration under the Act in reliance upon Section 3(a)(9) of the Act. No
remuneration was paid or given directly or indirectly in connection with the
conversion.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

At EVCI's annual meeting held on May 28, 2003, the stockholders voted as
follows:

     1. For the election of class 1 directors to hold office until the 2006
annual meeting. The voting for each nominee was:

         NAME                           VOTES FOR              VOTES WITHHELD
         ----                           ---------              --------------
         Dr. Arol I. Buntzman           4,435,458                   6,850
         Philip M. Getter               4,431,433                  10,875
         Dr. Donald Grunewald           4,435,458                   6,850

                                       17
<PAGE>

     2. Against an amendment to EVCI's Certificate of Incorporation to eliminate
the ability of stockholders to take action by written consent in lieu of a
stockholders' meeting. The amendment was defeated because the proposal failed to
receive a majority of the outstanding shares of common stock:

           VOTES FOR                   VOTES AGAINST                ABSTAINED
           ---------                   -------------                ---------
           2,010,564                      127,560                     9,260

     3. For ratifying the appointment of Goldstein Golub Kessler LLP as
independent auditors for the 2003 fiscal year:

           VOTES FOR                   VOTES AGAINST                ABSTAINED
           ---------                   -------------                ---------
           4,391,508                      49,350                      1,450

ITEM 5. OTHER INFORMATION

     On August 1, 2003, we sold 943,396 shares (the "Shares") of our common
stock and warrants (the "Warrants") to purchase an additional 235,850 shares of
our common stock to institutional investors for $2,000,000. The proceeds will be
used for expansion of Interboro existing sites and for working capital. The
common stock and warrants were issued as follows:

                                                          Shares of Common Stock
       Buyer                 Shares of Common Stock       Underlying Warrants
--------------------------------------------------------------------------------
Aquamarine Fund Inc.                  471,698                       117,925
Tilson Offshore Fund, L.P.             56,604                        14,151
Tilson Growth Fund, L.P.              415,094                       103,774
                          ------------------------------------------------------
                                      943,396                       235,850
                          ======================================================


     The purchase price of the Shares and the Warrant exercise price is $2.12
per share, which is the average closing bid price of our common stock for the 10
consecutive trading days through August 1, 2003. The Warrant exercise price is
subject to customary antidilution adjustments for stock splits, dividends,
recapitalizations, mergers and reclassifications. The Warrants expire on the
earlier of August 1, 2008, or 10 business days after notice is given by us to
the Warrant holder at any time after August 1, 2006 provided we give this notice
within 10 business days after the closing bid price of our common stock is more
than $5.00 per share for ten consecutive trading days.

                                       18
<PAGE>

     Our issuances of the Shares and Warrants are transactions that are exempt
from registration under the Securities Act of 1933 pursuant to Section 4(2) of
the Act and Regulation D of the SEC.

     In an unrelated transaction, on August 4, 2003, Interboro Institute, Inc.
borrowed $1,000,000 from North Fork Bank that is repayable in three years in
equal monthly installments of principal and interest. Repayment is guaranteed by
EVCI and secured by EVCI's and Interboro's assets, including a pledge of
Interboro's outstanding shares. $999,255 of the proceeds were used to prepay in
full the $910,000, secured promissory note payable to the holders of our Series
B preferred stock.

     Neither transaction required the payment of any selling commissions.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a) The following exhibits are filed as part of this report:

EXHIBIT NO.*     DESCRIPTION OF EXHIBIT

3.1[1]    Certificate of Incorporation of the Registrant.

3.1(a)[3] Certificate of Amendment to Certificate of Incorporation of the
          Registrant.

3.2[12]   Amended and Restated By-Laws of the Registrant.

3.3[1]    Certificate of Merger of Educational Video Conferencing, Inc. (a New
          York Corporation) into the Registrant (a Delaware Corporation).

3.4[1]    Certificate of Correction of the Certificate of Incorporation of the
          Registrant.

3.5[7]    Certificate Eliminating Reference to Series A 7.5% Convertible
          Preferred Stock from the Certificate of Incorporation of the
          Registrant.

3.6[8]    Certificate of Designations of Series B 7% Convertible Preferred Stock
          of the Registrant.

3.6(a)[7] Certificate of Correction of Certificate of Designations of the Series
          B 7% Convertible Preferred of the Registrant.

3.6(b)[9] Certificate of Amendment of Certificate of Incorporation of the
          Registrant.

3.7[10]   Certificate of Designations of Series C 8% Convertible Preferred Stock
          of the Registrant.

3.8[12]   Certificate of Correction of the Certificate of Incorporation of the
          Registrant.

                                       19
<PAGE>

4.1[1]    Form of Common Stock Purchase Warrant issued to investors in private
          placements and for services provided in connection with such private
          placements.

4.2[1]    Tayside Common Stock Purchase Warrant.

4.3[2]    Adelphi Common Stock Purchase Warrant.

4.4[2]    Form of Representative's Warrant Agreement (including Form of
          Representative's Warrant).

4.5[2]    Form of Common Stock Certificate.

4.6[4]    Warrant Agreement, dated January 14, 2000, between the Registrant and
          Bruce R. Kalisch.

4.7[6]    Warrant Agreement, dated April 18, 2000, between the Registrant and
          Peter J. Solomon Company Limited.

4.8[5]    Common Stock Purchase Warrant, dated February 3, 2000, issued to The
          Shaar Fund Ltd.

4.9[5]    Form of Finders' Warrant (relating to the issuance of warrants to
          purchase 3,870 shares of the Registrant's common stock).

4.10[7]   Form of Common Stock Purchase Warrant issued to purchasers of the
          Registrant's Series B 7% Convertible Preferred Stock.

4.11[8]   Form of Warrant issued to each seller of shares of ICTS, Inc.

4.12[10]  Form of Common Stock Purchase Warrant issued to purchasers of the
          Registrant's Series C 8% Convertible Preferred Stock.

4.13[11]  Warrant to purchase 50,000 shares of Common Stock of the Registrant
          issued to Rosenthal & Rosenthal, Inc. on July 12, 2002.

4.14[11]  Form of Common Stock Purchase Warrant issued in connection with the
          issuance of the Registrant's Convertible Promissory Notes that were
          converted into Registrant's common stock in September 2002.

4.15      Form of registrant's Common Stock Purchase Warrant issued to three
          institutional investors on August 1, 2003.

10.1[13]  Lease Agreement between the Registrant and 444 Realty Company, dated
          July 27, 1983, as amended by agreements dated June 9, 1988, June 1,
          1992, and February 1, 1993.

                                       20
<PAGE>

10.2[13]  Lease Agreement between the Registrant and JUYI, Inc., dated January
          26, 2001.

10.3      Promissory Note for $1,000,000, dated August 4, 2003, payable by
          registrant to North Fork Bank.

10.4      Form of registrant's Subscription and Registration Rights Agreement
          relating to registrant's August 1, 2003 issuance of common stock and
          warrants.

31.1      Certification of Chief Executive Officer pursuant to Section 302 of
          the Sarbanes-Oxley Act of 2002.

31.2      Certification of Chief Financial Officer pursuant to Section 302 of
          the Sarbanes-Oxley Act of 2002.

32.1      Certification of Chief Executive Officer pursuant to Section 906 of
          the Sarbanes-Oxley Act of 2002.

32.2      Certification of Chief Financial Officer pursuant to Section 906 of
          the Sarbanes-Oxley Act of 2002.



------------------------------

*    Numbers inside brackets indicate documents from which exhibits have been
     incorporated by reference.

[1]  Incorporated by reference to the Registrant's Registration Statement on
     Form SB-2, filed October 23, 1998, Registration No. 333-66085.

[2]  Incorporated by reference to Amendment No. 4, dated February 10, 1999, to
     the Registrant's Form SB-2, Registration No. 333-66085.

[3]  Incorporated by reference to Registrant's Form 10-QSB, for the quarter
     ended March 31, 1999.

[4]  Incorporated by reference to the Registrant's Form 8-K dated January 14,
     2000.

[5]  Incorporated by reference to the Registrant's Form 8-K dated February 3,
     2000.

[6]  Incorporated by reference to the Registrant's Form 10-QSB for the quarter
     ended June 30, 2000.

[7]  Incorporated by reference to the Registrant's Form 8-K dated October 6,
     2000.

[8]  Incorporated by reference to the Registrant's Form 8-K dated July 1, 2001.

[9]  Incorporated by reference to the Registrant's Form 10-QSB for the quarter
     ended September 30, 2001.

[10] Incorporated by reference to the Registrant's Form 10-KSB for the year
     ended December 31, 2001.

                                       21
<PAGE>

[11] Incorporated by reference to the Registrant's Form 10-QSB for the quarter
     ended June 30, 2002.

[12] Incorporated by reference to the Registrant's Form 10-KSB for the year
     ended December 31, 2002.

[13] Incorporated by reference to the Registrant's Form 10-QSB for the quarter
     ended March 31, 2003.


                                       22
<PAGE>



                                   SIGNATURES


In accordance with the requirements of the Exchange Act, the issuer caused this
report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated:  August 14, 2003
                                   EVCI CAREER COLLEGES INCORPORATED

                                    By:   /s/  Richard Goldenberg
                                         ---------------------------------------
                                          Richard Goldenberg
                                          Chief Financial Officer
                                          (Principal Financial and
                                          Accounting Officer)


                                       23
<PAGE>


                                  EXHIBIT INDEX


EXHIBIT NO.*     DESCRIPTION OF EXHIBIT

3.1[1]    Certificate of Incorporation of the Registrant.

3.1(a)[3] Certificate of Amendment to Certificate of Incorporation of the
          Registrant.

3.2[12]   Amended and Restated By-Laws of the Registrant.

3.3[1]    Certificate of Merger of Educational Video Conferencing, Inc. (a New
          York Corporation) into the Registrant (a Delaware Corporation).

3.4[1]    Certificate of Correction of the Certificate of Incorporation of the
          Registrant.

3.5[7]    Certificate Eliminating Reference to Series A 7.5% Convertible
          Preferred Stock from the Certificate of Incorporation of the
          Registrant.

3.6[8]    Certificate of Designations of Series B 7% Convertible Preferred Stock
          of the Registrant.

3.6(a)[7] Certificate of Correction of Certificate of Designations of the Series
          B 7% Convertible Preferred of the Registrant.

3.6(b)[9] Certificate of Amendment of Certificate of Incorporation of the
          Registrant.

3.7[10]   Certificate of Designations of Series C 8% Convertible Preferred Stock
          of the Registrant.

3.8[12]   Certificate of Correction of the Certificate of Incorporation of the
          Registrant.

4.1[1]    Form of Common Stock Purchase Warrant issued to investors in private
          placements and for services provided in connection with such private
          placements.

4.2[1]    Tayside Common Stock Purchase Warrant.

4.3[2]    Adelphi Common Stock Purchase Warrant.

4.4[2]    Form of Representative's Warrant Agreement (including Form of
          Representative's Warrant).

4.5[2]    Form of Common Stock Certificate.

                                       24
<PAGE>

4.6[4]    Warrant Agreement, dated January 14, 2000, between the Registrant and
          Bruce R. Kalisch.

4.7[6]    Warrant Agreement, dated April 18, 2000, between the Registrant and
          Peter J. Solomon Company Limited.

4.8[5]    Common Stock Purchase Warrant, dated February 3, 2000, issued to The
          Shaar Fund Ltd.

4.9[5]    Form of Finders' Warrant (relating to the issuance of warrants to
          purchase 3,870 shares of the Registrant's common stock).

4.10[7]   Form of Common Stock Purchase Warrant issued to purchasers of the
          Registrant's Series B 7% Convertible Preferred Stock.

4.11[8]   Form of Warrant issued to each seller of shares of ICTS, Inc.

4.12[10]  Form of Common Stock Purchase Warrant issued to purchasers of the
          Registrant's Series C 8% Convertible Preferred Stock.

4.13[11]  Warrant to purchase 50,000 shares of Common Stock of the Registrant
          issued to Rosenthal & Rosenthal, Inc. on July 12, 2002.

4.14[11]  Form of Common Stock Purchase Warrant issued in connection with the
          issuance of the Registrant's Convertible Promissory Notes that were
          converted into Registrant's common stock in September 2002.

4.15      Form of registrant's Common Stock Purchase Warrant issued to three
          institutional investors on August 1, 2003.

10.1[13]  Lease Agreement between the Registrant and 444 Realty Company, dated
          July 27, 1983, as amended by agreements dated June 9, 1988, June 1,
          1992, and February 1, 1993.

10.2[13]  Lease Agreement between the Registrant and JUYI, Inc., dated January
          26, 2001.

10.3      Promissory Note for $1,000,000, dated August 4, 2003, payable by
          registrant to North Fork Bank.

10.4      Form of registrant's Subscription and Registration Rights Agreement
          relating to registrant's August 1, 2003 issuance of common stock and
          warrants.

31.1      Certification of Chief Executive Officer pursuant to Section 302 of
          the Sarbanes-Oxley Act of 2002.

31.2      Certification of Chief Financial Officer pursuant to Section 302 of
          the Sarbanes-Oxley Act of 2002.

                                       25
<PAGE>

32.1      Certification of Chief Executive Officer pursuant to Section 906 of
          the Sarbanes-Oxley Act of 2002.

32.2      Certification of Chief Financial Officer pursuant to Section 906 of
          the Sarbanes-Oxley Act of 2002.

------------------------------

*    Numbers inside brackets indicate documents from which exhibits have been
     incorporated by reference.

[1]  Incorporated by reference to the Registrant's Registration Statement on
     Form SB-2, filed October 23, 1998, Registration No. 333-66085.

[2]  Incorporated by reference to Amendment No. 4, dated February 10, 1999, to
     the Registrant's Form SB-2, Registration No. 333-66085.

[3]  Incorporated by reference to Registrant's Form 10-QSB, for the quarter
     ended March 31, 1999.

[4]  Incorporated by reference to the Registrant's Form 8-K dated January 14,
     2000.

[5]  Incorporated by reference to the Registrant's Form 8-K dated February 3,
     2000.

[6]  Incorporated by reference to the Registrant's Form 10-QSB for the quarter
     ended June 30, 2000.

[7]  Incorporated by reference to the Registrant's Form 8-K dated October 6,
     2000.

[8]  Incorporated by reference to the Registrant's Form 8-K dated July 1, 2001.

[9]  Incorporated by reference to the Registrant's Form 10-QSB for the quarter
     ended September 30, 2001.

[10] Incorporated by reference to the Registrant's Form 10-KSB for the year
     ended December 31, 2001.

[11] Incorporated by reference to the Registrant's Form 10-QSB for the quarter
     ended June 30, 2002.

[12] Incorporated by reference to the Registrant's Form 10-KSB for the year
     ended December 31, 2002.

[13] Incorporated by reference to the Registrant's Form 10-QSB for the quarter
     ended March 31, 2003.


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